The amendments proposed to the Chit Funds Act, 1982 include, increasing the ceiling of foreman's commission from a maximum of 5% to 7%, usage of the word "Fraternity Fund" for chit business by distinguishing it from "Prize Chits", proposal to allow the two minimum required subscribers to join through video conferencing duly recorded by the foreman, as physical presence of the subscribers towards the final stages of a Chit.

He said that the DIG East has been asked to prepare schedule of meetings with the business community concerned and their leadership with regard to their problems, difficulties and reservations etc regarding the 'bhatta' chits.

With eight characters (each a number or letter, not case sensitive), a publisher, charity, or subscription agency has enough combinations to issue over a million different chits (a million subscriptions)--and yet if an intruder tries to guess, their chance of getting any correct code to use is less than a million to one.

In a series of workshops around the region, these civic and political leaders are sitting at large maps and game boards with a set of chits representing the additional 6 million new residents in the next 20 years.

All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.